Eliminating the Legislative Bias against SMEs

Out of every five jobs created in the the formal economy four are availed by micro, small and medium enterprises, let alone the jobs already availabe in the informal economy. In light of this sector’s significant contribution to GNP which is estimated at about 60 percent, and against the increasing rates of unemployment especially due to the coronavirus pandemic, this sector should be given attention of the utmost priority. The constraints facing the establishment of these enterprises should be eliminated, while giving them the necessary care to ensure they thrive and achieve their objectives. This could be done by providing technical, administrative and financial support, drawing on the experiences of leading countries in this respect, and qualified personnel in these enterprises through high-end training programs, both locally and abroad.